Canadian National Railway Company (NYSE:CNI) to Issue Quarterly Dividend of $0.65

Canadian National Railway Company (NYSE:CNI - Get Free Report) TSE: CNR announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Stockholders of record on Monday, September 8th will be given a dividend of 0.6507 per share by the transportation company on Monday, September 29th. This represents a $2.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Monday, September 8th. This is a 5.7% increase from Canadian National Railway's previous quarterly dividend of $0.62.

Canadian National Railway has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Canadian National Railway to earn $6.21 per share next year, which means the company should continue to be able to cover its $2.58 annual dividend with an expected future payout ratio of 41.5%.

Canadian National Railway Trading Up 0.2%

NYSE:CNI traded up $0.16 during trading hours on Friday, reaching $95.58. The company's stock had a trading volume of 1,137,112 shares, compared to its average volume of 1,467,525. The firm has a market capitalization of $59.88 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.93 and a beta of 0.97. The firm has a 50-day simple moving average of $103.97 and a 200-day simple moving average of $101.55. Canadian National Railway has a 1 year low of $91.65 and a 1 year high of $121.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.43 and a current ratio of 0.82.

Canadian National Railway (NYSE:CNI - Get Free Report) TSE: CNR last issued its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 EPS for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $4.34 billion. Canadian National Railway had a return on equity of 21.71% and a net margin of 26.63%. Canadian National Railway's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. Research analysts expect that Canadian National Railway will post 5.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNI has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price objective on shares of Canadian National Railway from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Susquehanna decreased their price objective on shares of Canadian National Railway from $122.00 to $120.00 and set a "positive" rating on the stock in a research report on Wednesday. Evercore ISI cut shares of Canadian National Railway from an "outperform" rating to an "in-line" rating and set a $105.00 price objective on the stock. in a research report on Wednesday. Royal Bank Of Canada cut their target price on shares of Canadian National Railway from $161.00 to $157.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of Canadian National Railway from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Canadian National Railway presently has an average rating of "Hold" and a consensus price target of $118.36.

Institutional Investors Weigh In On Canadian National Railway

An institutional investor recently bought a new position in Canadian National Railway stock. AQR Capital Management LLC bought a new position in Canadian National Railway Company (NYSE:CNI - Free Report) TSE: CNR during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,194 shares of the transportation company's stock, valued at approximately $311,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Canadian National Railway Company Profile

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.